PV Narasimha Rao | 29 Jun 2020
Why in News
Recently, the Telangana Chief Minister launched the year-long celebrations to commemorate the birth centenary of former prime minister P V Narasimha Rao.
- The centenary celebrations will highlight the 360-degree personality of P V Narasima Rao.
Key Points
- PV Narasimha Rao was born on 28th June 1921 in erstwhile Nizam's Hyderabad state.
- He was a freedom fighter, academician, and literary figure. He was also the 9th Prime Minister of India from 1991 to 1996.
- He published ‘SahasraPhan’, a Hindi translation of the famous Telugu Novel ‘Veyi Padagalu’.
- Economic Reforms: He sought to dismantle the restrictions imposed under the license raj, reduce red tape and make Indian industries more competitive.
- He is known for bringing the policy of economic liberalisation in India.
- The economic liberalisation in India is referred to the liberalisation of the country's economic policies.
- It was initiated in 1991 with the goal of making the economy more market- and service-oriented, and expanding the role of private and foreign investment.
- He is known for bringing the policy of economic liberalisation in India.
- Foreign Policy: In terms of foreign policy, he established diplomatic relations with Israel.
- The Look East Policy of India was also initiated during his tenure.
- He is also known for reversing decades of unfriendly relations between India and the United States by bringing them together.
- Constitutional Reforms: The 73rd and 74th Constitutional Amendments Act empowering local bodies were enacted during his tenure.